The Denver Broncos have agreed to trade quarterback Case Keenum to the Washington Redskins for a sixth-round pick in the 2020 draft, sources confirmed to ESPN's Adam Schefter on Thursday. Washington will also get a 2020 seventh-rounder from Denver.

The 31-year-old Keenum, who was currently slated to count $21 million against the Broncos' salary cap for the 2019 season, has reworked his contract and will be on a one-year deal with the Redskins, sources told Schefter.

Keenum has a base salary of $18 million this season, but only $7 million was guaranteed in the way of offsets, which the Redskins and Broncos decided to split evenly, sources said. The Broncos, who would've carried $10 million in "dead money" had they cut Keenum, will instead save $3 million by paying only $3.5 million as well as a $500,000 restructuring bonus.